/**
 * Loan Payment Calculator
 * @author Jenny Orr
 * @version Sept 9, 2013
 */
public class LoanPaymentApp {
   
    public static void main(String[] args) {
	    // Inputs
        double loanAmount = 5000.0; // in dollars
        double interestRate = 5.0; // yearly rate in percent
        double loanLength = 10.0; // in years
        
        double monthlyInterestRate = interestRate/100./12;
        double loanLengthMonths = loanLength*12;
        
        System.out.println("**** The Loan Payment Calculator **** ");
        System.out.println("Loan Amount: $" + loanAmount);
        System.out.println("Yearly Interest Rate:  " + interestRate + "%");
        System.out.println("Loan Length:  " + loanLength + " years");
        
        // Formula taken from http://www.mtgprofessor.com/formulas.htm
        double temp = Math.pow( 1.0 + monthlyInterestRate, loanLengthMonths); 
        double payment = loanAmount * monthlyInterestRate* temp / ( temp - 1.0);
        
        //System.out.println("Your monthly payment will be $" + payment);
        // Or written with better formatting: 
        System.out.printf("\nYour monthly payment will be $%.2f\n",payment);
    }
}